Electrohydraulic Actuator Market Size, Share, Growth, and Industry Analysis, By Type (Control Type, Electrohydraulic Actuator and Switch Type Electrohydraulic Actuator), By Application (Petrochemical, Metallurgy, Electric Power, Ship, General Industrial and Others), Regional Insights, and Forecast To 2032

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Electrohydraulic Actuator Market REPORT OVERVIEW

The global electrohydraulic actuator market size is estimated to be USD 0.25 billion in 2024 and market is projected to touch USD 0.34 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.0% during the forecast period.

The advantages of hydraulic and electric technologies are combined in electrohydraulic actuators, along with their control, adaptability, and installation convenience. Applications for actuators include rotary torque arm actuators, coal mine diverter shuts, damper drives, valve actuators, and position controllers. The market for these actuators is expected to increase throughout the projected period as a result. An actuator that operates a valve using pressurised hydraulic fluid is called an electro-hydraulic actuator; however, electric power is its only energy source. ​The electric power is utilised to energise a motor, which then drives a hydraulic pump.

The pressurised fluid is then supplied to power a hydraulic actuator, which controls the control valve, because the entire system is self-contained, there is no need for a separate hydraulic power unit, which simplifies system construction, increases safety, and improves reliability. Both linear and rotary valves can be operated by an electro-hydraulic actuator that is self-contained. It has been applied in a variety of industrial applications with gate and butterfly valves. Aircraft were initially piloted by means of small aerodynamic surfaces that were manipulated by cables attached to levers that mechanically amplified the pilot's input.

Aerodynamic forces on these surfaces increased as aircraft grew in size and performance to the point where the pilot could no longer manually control them over a wide speed range because controls that were advantageous enough to control the aircraft at high speed caused the aircraft to be significantly overcontrolled at lower speeds when the aerodynamic forces were reduced. Hydraulics were introduced to address these problems. In their early incarnations, hydraulic pumps attached to the engines fed high-pressure oil through tubes to the various control surfaces. Here, small valves were attached to the original control cables, controlling the flow of oil into an associated actuator connected to the control surface. One of the earliest fittings of a hydraulic boost system was to ailerons on late-war models of the P-38L, removing the need for great human strength to achieve a higher rate of roll.

COVID-19 Impact: Government Regulations regarding Pandemic to Hamper Market Growth

Due to lockdowns and other restrictions set by the relevant governing bodies in response to the COVID-19 outbreak, the activities of many industries had either been temporarily stopped or were operating with a reduced workforce. Similar to other markets, the worldwide electrohydraulic actuator market is expected to experience a significant decline in revenue growth as a result of this factor. Over the course of this projection period, the high expenses related to the installation and maintenance of these machines is another factor that could restrain the revenue growth of the market.

LATEST TRENDS

"Decreased Operational Expenses to Cushion Market Growth"

These actuators can be used to regulate the movement of heavy machinery, manufacturing plant valves, or other industrial machinery that requires a precise force and speed. By automating the operations that personnel traditionally did manually, these technologies considerably reduce the amount of manual labour that is required. This increases efficiency and productivity while decreasing operational expenses for ship operators.

Electrohydraulic Actuator Market SEGMENTATION

• By Type

Based on type; the market is divided into control type, electrohydraulic actuator and switch type electrohydraulic actuator.

In terms of product, switch type electrohydraulic actuator is the largest segment.

• By Application

Based on application; the market is divided into petrochemical, metallurgy, electric power, ship, general industrial and others.

In terms of application, petrochemical is the largest segment.

DRIVING FACTORS

"Use of the Actuators in Oil and Gas to Augment Market Growth"

These actuators are used in oil and gas applications such wellhead control, choke/kill valves, blowout preventers (BOPs), production safety systems, and drilling management systems. They are used in the oil and gas industry to assist lower emissions and consumption. Electric actuators, which may be remotely controlled from a central point for effective operations, are used to control the production of oil and gas. As a result, operating costs can be decreased due to remote operation requiring little or no human interaction. By using less fuel, greenhouse gases like CO (carbon dioxide) that are released into the atmosphere by industrial machinery will also be reduced. This is a major factor positively influencing the electrohydraulic actuator market growth.

"Adoption of the Machinery by Power Industry to Enhance Market Growth"

In the power sector, actuators are used to regulate, activate, and position various machine parts. They can be utilised for automation on offshore oil platforms. When compared to its alternatives, such as servo-electric actuating systems or hydraulic cylinders with pneumatic valves, which need a lot of compressed air, electrical power, and others use a fraction of the energy.

RESTRAINING FACTORS

"Leakage in the Actuators to Constrain Market Growth"

Not only do hydraulic systems frequently leak dangerous fluids, but they also frequently leak fluids that cause other contamination problems and inefficiencies, which could potentially harm other components of the entire application. The overwhelming amount of human support required to maintain, monitor, programme, and use hydraulic actuators, however, is their biggest drawback. The operator must decide where the positioning is acceptable and add more components as needed. The operator must also establish the precise speed for the application and dial in the required force for mid-stroke positioning.

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Electrohydraulic Actuator Market REGIONAL INSIGHTS

"North America to Dominate the market Due to Numerous Applications of the Equipment in Textile Industry"

North America is expected to account for the largest electrohydraulic actuator market share in terms of revenue and is projected to grow at a high CAGR. The production capacity of the specific product is rapidly increasing in North America. Additionally, due to the enormous expansion of the manufacturing sector, as well as the demand for food processing equipment in the US and Canada, the product is in high demand in the specific area. North America is expected to show relatively steady growth during the forecast period. The region is expected to be the fastest-growing region in terms of value. This region is anticipated to register the CAGR at a high pace.

KEY INDUSTRY PLAYERS

"New Development Strategies Among Players to Boost Market Growth"

The growth of their commercial operations in developing regions is a key priority for numerous well-known players active in the global electrohydraulic actuator market. Companies in the global electrohydraulic actuator market are also preparing plans for the development of new products and the extension of their product lines through investments and mergers & acquisitions. The market will be better understood owing to the report's extensive examination of supply chain analysis.

LIST OF TOP Electrohydraulic Actuator COMPANIES

• KOSO (India)
• NEPCI (India)
• Rexa (U.S.)
• Chongqing Chuanyi Automation (China)
• RPMTECH (Canada)
• Fahlke (Germany)
• Lishui ZhongDe Petrochemical Equipment (China)
• HollySys (China)
• Emerson (U.S.)

INDUSTRY DEVELOPMENT

November, 2020: According to an announcement made by the firm. The Leading-Edge Flap Drive System, the Wingfold Actuation System, and the Primary Flight Control Actuation System for Lockheed Martin's F-35 Lightning II 5th Generation fighter were awarded to Moog Inc., a potential market player in the industry.

REPORT COVERAGE

A report that includes specifics and data on market revenue size or value, historical and projected growth of the target market/industry, revenue share, most recent developments and current trends, investment strategies, business advancements, and investments, among other things. The report also includes in-depth, subjective research that is based on in-depth, quantitative examination and analysis of the facts and information. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.